Millions of people from around the world find that home is not only a place where you live with your family; it also a place where you can easily and affordably start a business and turn it into a success story.
Starting your business from home makes a lot of sense, especially when you have limited time, resources and in some cases the inconvenience of a full time job.
Over the past two decades, millions of entrepreneurs have successfully taken their products, skills and abilities to the marketplace, completely unhindered by the situation of their surroundings. Mothers, fathers and grandparents, all juggling their lives, health and relationships while building successful enterprises from home.
A large number of home based businesses are started on a part-time basis. Many of these businesses eventually expand into full time operations, as the business grows and develops over time.
Starting your business from home has its advantages and disadvantages, especially for first time entrepreneurs, who are often looking to startup a small business from home to reduce costs.
Below are some of the pros and cons of starting a business from home.
Pro: Making decisions on your own
When starting your business from home you are solely in charge and responsible for every decision concerning your business. Whenever you want something done in a particular way, you can afford to do it without having to put up with anyone trying to tell you how to do it. It’s your business and you get to do as you see fit.
Con: You may miss out on input and ideas from partners, employees or coworkers
Whenever you are in need of instant advice concerning any matter, you cannot simply look over your shoulder to get any; not unless you have other employees working on your home business along with you. One feasible way out of this is to join a few online networking groups, in these groups you can easily discuss ideas or issues with like minded professionals.
Pro: Reducing your running costs
Launching your business from home is a real money saver, especially when it comes to saving money on essentials like rent, rates, security, fuel and even in some cases a parking space for your car.
With only a private room large enough to fit all the equipment you need for your business required, you may find a spare bedroom, a study, a converted garage or even a garden office could save you a fortune over time.
Con: Person to person meetings
If the space you have picked out to work in is not especially salubrious it may make it difficult to hold one to one or one to many meetings in person, your garden office may not have the same appeal as a corner office in a shared modern building.
However in a post coronavirus world, meetings in the flesh are ever diminishing and besides, sometimes a meeting in an interesting public place is far more productive than a stuffy office.
Pro: Proper work life balance
Another advantage of starting your business from home is that it gives you the opportunity to spend more time with your friends and family. You don’t have to worry about heavy traffic getting in the way of you having dinner with your family every evening.
As the boss, you get to decide your working hours. You can run your business while your kids are at school, dance lessons, or even late into the night while they are sound asleep in bed.
Con: Loved Ones Can Get In The Way
Although being able to enjoy the balance between work and personal life is one of the benefits of starting a home based business, a downside is that a home still has many ways it may interfere with your work.
Whether it is a well meaning partner bringing you a coffee while you are on an important call, or a smiling daughter bringing you a painting while you a doing a spreadsheet, the list of potential interruptions is endless.
The to-do list at home seems unending , and when you have domestic jobs that need doing staring you in the face every day, it may be hard to ignore them or concentrate on the job at hand.
In most cases, the desire to take care house related errands may just be an excuse not to get any work done.
Pro: All round comfort
Working from home can be very comfortable for an entrepreneur, especially when the idea of walking only a few steps to get to your home office or the kitchen table for a cup of coffee every morning appeals to you.
Moreover, not having to roll out of bed every morning bothered about how you look or what to wear is also one of the benefits you get to enjoy from starting a business from home.
Con: It easy let discipline slip
The downside of this advantage is that it makes it easier for you to get sidetracked when you are in the comfort of your own home. You have a couch and a TV set in the next room, your fridge and kitchen just a few steps away; and a bedroom with a large king size bed that seems to be always calling you short nap each time you yawn.
Pro: Healthy Diet
Of all the many pros that come with starting a business from home, this one will give you lifelong benefits as you get the chance to maintain a healthy diet while still running the business effectively.
There’s nothing much more appealing than a home cooked meal that comes out of your kitchen just the way you like it. No more burgers, hotdogs or dodgy garage sandwiches . If you have been thinking of how to get yourself into a healthy diet routine, then launching your business from home is a perfect way to start.
Con: It’s not just healthy stuff in the fridge
As much as launching your business from home lets you enjoy homemade meals at any time, having your kitchen close by and not being able to resist the urge to grab a bite each time food comes to your mind is a downside.
In some cases, you may find yourself taking unwarranted trips to your kitchen just because it’s a few steps away rather than staying put and accomplishing the task at hand.
Starting a business from home is a dream come true for some people, while it can be difficult for the less disciplined.
You are the boss, you choose the hours, you choose what’s available for lunch and it is down to you to eliminate distractions.
However, if you remember the reasons why you started the business in the first place and constantly remind yourself on the need to stay on track, then you may be able to put the advantages to good use.
I have been working from home for most of my life, I have fallen into many discipline traps, we all have good days and bad days. I would like to tell you I succeeded with willpower and above average skills, however the truth is automating much of the work that needs to be done online frees you up to spend less time on the job.